Tesla Inc, fueled by its TSLA stock, is experiencing an impressive rally, surging by an astounding 119.92% year-to-date. The alliance between Ford, GM, and Tesla should boost the EV realm. Last week the FED paused the interest rate hike, thereby spreading positive sentiments throughout the market. This caused the S&P index to be over $440.00 and closed the week with a strength of over 2%.
Tesla Inc. (TSLA Stock) – Financial Anatomy
After the end of an eventful week, the market could be slow this week due to extra holidays since June 19 is a bank holiday in the U.S. By adding the summer trading scenario to the mix, lower trading volumes can be expected.
General Motors Co. Ford Motor Co. and Tesla are collaborating to provide a fast-charging network for EVs across the U.S. The automotive companies are trying to ensure that over 60% of electric vehicles currently running on American roads have access to Tesla’s North American Charging Standard (NACS). Additionally, there are plans to set up the NACS as a primary charging network for EVs in the United States.
At press time, TSLA stock is trading at $260.54 after swelling 1.81% in the last 24 hours. Previous close and open were at $255.90 and $258.92, respectively. The 52-week change comes with a gain of 9.92%. The share price rallied 4.61% in a week, 54.71% in a month, and 41.20% in the last three months.
With a trailing twelve-month (TTM) price-to-earnings ratio of 75.08, it can be inferred that the stock remains overvalued. The earnings per share (EPS) in a similar time-lapse is $3.47. Analysts placed a 2.37 rating for HOLD and placed the price target at $200.11 with a downside of 22.00%.
The last earnings were reported on April 19, 2023, which failed to beat the estimated revenue of $23.596 Billion by 1.13%, which is equivalent to a shortage of $266.699 Million. The reported revenue was $23.329 Billion. The quarterly change in revenue is a gain of $24.38% to $23.33 Billion, while the revenue (ttm) is reported to be $86.03 Billion.
Furthermore, the revenue per share (ttm) is $27.35, and the quarterly revenue growth (YoY) has witnessed a hike of 24.40%. The operating expenses dropped by 0.54% to $1.85 Billion, while the operating margin swelled by 14.82%. The net profit margin dropped by 39.12% to 10.77, and the profit margin (ttm) jumped by 13.66%.
Total cash in hand at the end of the most recent quarter (mrq) is $22.4 Billion, while the total debt in the same timeframe is $5.57 Billion.
Tesla Inc. (TSLA Stock) – Candle Exploration
Price action since November 2022 forms a sort of double-bottom pattern for TSLA, indicating noticeable growth in the future. The share price is expected to enter the supply zone, but the route might go through some consolidation. Although the EMA is showing a positive deviation, the RSI of 85.94 signals a slight correction.
If the price drops, it will first test the immediate resistance, and might bounce back north. Being part of a double-bottom pattern, the extremities of the demand zone act as strong support and so, a drop below this zone is unlikely. The share price of TSLA is anticipated to undergo a period of consolidation, during which it will stabilize and gather momentum before determining its future trajectory.
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/19/tsla-stock-will-partnership-with-gm-and-ford-be-beneficial/